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One problem with polished concrete is you can see any cracks in the slab. It's not uncommon for slabs to have small cracks. The cracks aren't bad, but will be visible if you go that route. So, you might pull up your existing floor and see that the concrete is not pristine enough for that.

Polished concrete or even terrazzo floors (saw one recently with recycled glass that was gorgeous) can be really nice but are rather cold physically and psychologically and the micro-cracking can be an issue. I seem to be specifying a lot of quality (not Lowe's crap) bamboo flooring lately as an alternative to hardwood and must say I do like it. You can get it in just about any color, it is as hard or harder than hardwood, and of course it is a renewable resource that may even qualify you for a grant depending on where you live. Installers have made faces at me at first but admit it goes down nicely. You can nail it or float it. It makes a nice quiet floor if you underlay it with cork. Concrete will reflect and bounce sound. Speaking of cork, I have called for quality versions for a few family rooms and the clients seemed delighted as well. It comes in more colors now than just the institutional ones we all grew tired of seeing. Check out someplace like Duro Design if interested to start.